Egypt International 2009 Bid Rounds
The Egyptian General Petroleum Corporation (EGPC) (www.egpc.com.eg) and Ganoub El Wadi Petroleum Holding Company (Ganope) (www.ganope.com) are offering oil and gas exploration blocks as part of their latest bid rounds.
EGPC has launched its 2009 International Bid Round, which includes eight exploration blocks, all of which are located in the Gulf of Suez. A data room will be available upon request at the EGPC data centre in NasrCity, Cairo. The Ganope bid round includes three exploration blocks in the South of the Gulf of Suez and EasternDesert.
The bid round closing date is 1 November 2009 at 12:00 (Cairo local time) and offers should be based on the procedures, main terms, conditions and the Egyptian model agreements.
|2009 EGPC and GANOPE Bid Round Acreage|
|Offered by||Block||Surface (sqkm)|
|EGPC||NorthWest Abu Zenima||276.3|
|EGPC||East Ras Budran Offshore||45.56|
|EGPC||North Ras El Ush||164.5|
|Ganope||West Wadi Dib||506|
|Ganope||Wadi Abu Had||258|
EGPC is the authority responsible for oil activities in Egypt and its licensing round has been highly anticipated since the last round in 2006. It was expected that it would also include acreage in the WesternDesert area rather than entirely centred on the Gulf of Suez. There has been some speculation that the WesternDesert acreage may be offered as part of a separate round later in the year.
Ganope oversees oil and gas activities in the southern part of Egypt (Upper Egypt) which is largely frontier. The blocks that Ganope is offering, however, are located in and around the Gulf of Suez rather than the under explored regions. One of the blocks on offer, West Wadi Dib, was on offer as part of the previous Ganope round in 2008. The Ganope 2008 round yielded mixed results, with just three, out of 12 blocks on offer, being awarded. All of these blocks were awarded to two consortia of Indian companies led by Gujarat State Petroleum Corporation.
The Gulf of Suez has been a key area for oil production in Egypt and is the location of many mature fields. While much of the basin is mature, discoveries do still get made and the area has recently attracted a wide variety of players.
Map: Blocks on offer from EGPC (blue shading) and Ganope (purple shading) as part of the 2009 International Bid Round.
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